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MASON CITY GLOBE-GAZETTE, AUGUST 8 1935 FIFTEEJH Mason City's Calendar Aug. 11--East park concert by Municipal band, 8 p. m. Aug. 13--Manufacturers and jobbers to stage third good will trip to Cresco. Aug. 14--Concert by Municipal band in East park. 9 p. m. Aug. 19-23--North Iowa free fair. Aug. 21--Eighth grade commencement at East Park at 10 a. m. vy ri. \ Here In Mason City Birth certificates have been filed 5r. the office of the clerk for Thomas Bradock, son of Mr. and Mrs. James Henry Adney, 439 Twenty-fifth _street southwest, born July 22; Robert James, son of Mr. and Mrs. Robert Elliott Finlayson, 108 Kentucky avenue southeast, born July 30; Jo Anna, daughter of Mr. and Mrs. Verl Welsh, Mason City, born July 27, and Thomas Lewis, son of Mr. and Mrs. Frank E. Hall, born July SO. Among the livestock entries from Cerro Gordo county, announced Â·Thursday, were Shorthorn cattle Â·and Berkshire swine by Carl A. Hen- Jtel. Â· Julias Estess, manager of the Pal- *ais Royal store, returned Thursday from a three day business trip to Â·Chicago. He saw the Joe Louis-King TLevinsky fight Wednesday night. . - Schedules of the North lovva- Â·Southern Minnesota Softball tournament will be mailed out Thursday by tie Y. M. C. A. to participating teams. Hour, day and teams to play are included in the bracket. - E. S. Gage returned Wednesday from a business trip to Cedar Rapids. I : LIQUOR SALES SHOWING DROP July Volume $6,844.19 Is Compared With $11,569 in June in Mason City. The sales volume of the state liquor store in Mason City showed a marked decrease in July compared with June, according to figures released Thursday by the Iowa liquor control commission. The July sales totaled $6,844.19, Â·while those for June were $11,569.10. ; Sales' volume 'of 'all state liquor Â·Stores'in Iowa showed a'decrease of $126,495 .for the month of July, Â·as compared with June, the Iowa iquor control commission announced. " A drop of $161,238 in total sales Â·receipts also is indicated for July, as compared with the month of May, 1935. . , Liquor sales for July reached a total of $319,301. The total for June was $445,796, and for May, $480,539. Nearly 25,000 applications for jobs are now on file with the Iowa liquor control commission, and the number is continually increasing, but there are no vacancies, according to the personnel department of the commission. AT THE HOSPITALS . Pierre Posse, 661 Twelfth street northeast, was admitted to the Park ( hospital Wednesday for treatment. SsSfli. / Â· / A son weighing 7 pounds was 1-Sjit } Dorn to Mr - an 3 Mrs. H - Joynt, 703 SS-py .' Pennsylvania avenue southeast, SK| \ f .Thursday at the Story hospital. jgfV } Â·Â· George Harmon, 222 Madison av- tfifll f / enue northwest, was admitted to the ilfslr I Mercy hospital Thursday for a minor sJSf ' operation. ) Â· Miss Virginia Gager, I. O. 0. P. ' I home, was admitted to the Park Â§81 ft ' hospital Wednesday for a minor op- 'I I eration. Â· Oscar Groth, 719 Twelfth street northeast, was admitted to the Mercy hospital Wednesday for treat- gS. i ment. t% :, * Tom Lynch, transient camp, was ;\ : |, '^ dismissed from the Park hospital S'ffi '^Wednesday following treatment for v--\;//injuries received in a fall at the qjY.^transient camp. , ,31 \ A.-Maxwell Boothroyd, Stanton ho- Â·Â·';'* J( /Tel, was admitted to the Mercy hos- : t,*'(pital Wednesday for a major opera- .'Â·'Vi ''tion, l|i " Alice Barnes, 'Northwood, was dis- :1;:; ]Siissed from the Park hospital Wed. a, iiesday following a minor operation. V- :Â·- Mrs. J. J. Downs and infant . Â£ i daughter, 534 Twentieth street !| / southeast, were dismissed from the ?.Â·:] I Mercy hospital Wednesday. . .|,- 'Â· E. B. Hayes, 200 Crescent drive, i; y I, ft'as dismissed from the Mercy hos- v .4 ' pital Wednesday following treat- Dr. E. C. Martin Successor to Dr. 3. D. Heeler CBOROPODIST 316 1st. Nat. Bank Bldg. Ph. 331 and Ignition Service Central Auto Electric Co. Formerly Central Battery Â£ Electric Co. mo;ir 454 117 S. Delaware Ave. REFUNDING WOULD CUT INTEREST COSTS TO HALF REFINANCING NOT POSSIBLE UNTIL BOND MATURITIES No Thought of Such Cheap Money as City, Schools, County Sold Bonds. The fact that the city was able to sell 2 per cent bonds for the purchase of the old postoffice build- Ing a few weeks ago brought home in an emphatic manner the situation that money was cheap. This and other evidences of cheap money have brought about a general scrutiny of the debt structures of the municipality, county and school system by public officials in the hopes of cutting the annual cost of interest by refunding. The bond issues of the three local governmental divisions, totaling $1,449,500, ranging in interest up to 6 per cent, however, are not callable except for one small allotment of county bonds. Could Be Cut in Two. Were it possible to refund these debts the annual interest rate of about $65,000 could be cut in two on the basis of the last city bond sale and late county obligation transactions. Refunding of debts is taking place on a large scale by industries, which are succeeding in materially lowering the cost of fixed obligations. Holders of bonds at higher rates of interest, however, are reluctant to part with their holdings except at premiums that would defeat the refunding objectives. Consequently refunding except on maturity dates of existing issues is practically out of the question. Called City Bonds. P. F. Hopkins, when city manager of Mason City, succeeded in calling in a sizable amount of bonds for refunding by paying a moderate premium. At the time the existing bonds were issued, there was of course no thought that bonds would ever be on the market at 2 per cent. Otherwise callable provisions would have been made. Without this incentive there was no reason for making bonds callable for that always detracted from, their desirability and tended to raise the interest rate. Bonds of the city, schools and county, however, are short term obligations and it won't be many years before all the existing debt, particularly the higher interest rate issues will be retired or refunded. The outstanding- bonds, locally, are as follows: Mason City schools..? 516,000 City of Mason City.. 547,000 Cerro Gordo county . 386,500 Total $1,449,500 PLAN REFINANCING $516,000 School Bonds Mature by 1944. The $516,000 of school bonds outstanding consist of $196,000 of 4% per cent, $230,000 of 5 per cent and $90,000 of 4% per cent issues, all of which were sold at a substantial premium and which mature at intervals up to 1944. It is the plan of the board, judging from its actions of the past, to pay off what is possible in the next nine years and refinance the remainder at a lower rate of interest, if that is possible. Of the $250,000 bond issue floated to build the high school, all but $18,000 has been paid. A $40,000 issue for the site has been refinanced. Besides the high school bond issue, the board since 1918 retired a $60,000 issue of bonds, in which were included $20,000 borrowed by the school district to build the old Central stone school structure in 1872. Peak in 1924. The school system reached its peak in indebtedness in 1924, with bonds totaling $834,000 out. That year finished a school building program that started with the construction of the high school and included the purchase of the Roosevelt school building and site, remodeling of the building, the construction oÂ£ the Wilson, Harding, Madison, Monroe and Jefferson units and remodeling of the McKinley and the Washington schools and the construction of the Roosevelt stadium. The school bonds mature as follows: $213,000 of 4% and 5 per cent bonds in 1937; $55,000 of 5 per cent bonds in 1938; $100,000 of 5 per cent bonds in 1942 and $90,000 of 4% bonds in 1944. CITY DEBT DOWN At $547,000 From Peak $1,200,000. of The $547,000 of city bonds outstanding consist of $65,000 of 4 per cent, 5229,000 of 4% per cent; $154,000 of 5 per cent and $99,000 of 6 per cent issues. The maturities will be as follows: $14,000 of 5 per cent bonds in 1936, $24,000 in 4'i and 5 per cent bonds A COMPLETE Auto Electric S E R V I C E Battery and Electric Service 110 S. Delaware Phone^.319 Fast Cars to Perform at North Iowa Fair The roar of fast racing cars slamming into the turns and roaring down the stretch is scheduled to entertain Mason City speed fans this year, according to an early official announcement from headquarters of the North Iowa fair. Scenes as pictured above, showing a typical brush between three cars battling for position, will provide thrills on the local track on Monday, Aug. 19, as a feature of the Fair program. in 1937; $43,000 in 4, t'/z and 5 per cent bonds in 1939; $114,000 in 4y 2 and 6 per cent bonds in 1940; 115,000 of 5 per cent bonds in 1942, $29,000 of 4% per cent bonds in 1943 and $145,000 of 4'4 per cent bonds in 1946. The bonded indebtedness of the city has shown a continuous downward trend from almost $1,200,000 when the city manager form of government went into effect in 1927. OUT OF DEBT County Approached That; Then Came Poor Bonds. With the state taking over the payment of primary road bonds, Cerro Gordo county was practically out of debt when it had to start issuing poor fund bonds in 1932. Poor fund bonds in the county now total $386,500, of which $24,000 will be retired this year. All the bond issues, however, are short term obligations and will be retired by 1944. Having sold its bonds since 1932, the county is enjoying a lower rate of interest than the city or school system. The interest rate ranges from 2% to 5 per cent, with the average probably something iess than 4 per cent. The first issue of $38,000, sold Sept. 1, 1932, is 5 per cent bonds and are callable in 1939. Retirements of all the bonds occur at such regular intervals up to 1944 that refunding will be unnecessary. There also stands against the county from a credit rating standpoint pirmary road band issues totaling $100,500. Interest and principal of these, however, are payable by the highway commission. The bonds, which are 4% and 4% per cent issues, will be retired in the next three ] years. ' ' ' | Emory Collins, Canadian Racing Champ, Coming Intends to Participate in Auto Competition Frazer Announces Money Will Be Advanced on 60 Per Cent of Value. Returning from a conference with state and federal officials at Des Moines Saturday,-W. T. Frazer, secretary-treasurer of the Mason City Production Credit association of Mason City, announced loans on farm-stored small grains now are available through the association to farmers in this territory. Approximately 60 per cent of the local market value will be advanced on oats, wheat, rye, barley and small grains. Mr. Frazer said. Interest at 5 per cent a year will be charged. Loans will come due June 1, 1936. Inspection of grain and sealing of cribs or bins will be done by state officials operating under the state warehouse law, as was the case with loans previously offered on stored corn by the Commodity Credit corporation. Mr. Frazer pointed out the service will enable farmers eligible as PCA borrowers to keep small grain off the market at harvest time and still pay harvesting and other current expenses. Grain may be stored for future marketing, feeding or seed. Applications now are being received by Mr. Frazer and by the local corn sealers in Cerro Gordo, Mitchell. Worth, Floyd, Hancock and Winnebago counties. The Mason City PCA serves farmers in these counties. Mrs. Norma Kelly Is Given Divorce Decree Mrs. Norma Kelly was awarded a divorce Thursday from her husband, W. J. Kelly, and also was given custody of their minor daughter, Shirley Jean. Judge T. A. Beardmore granted the decree on grounds of cruel and inhuman treatment. at Local Fair. Emory Collins, Canadian automobile racing champion, runnerup to the world's dirt track title in 1933 and 1934 and reputed Â· to be the hardest-riding of all present day dirt track speed demons, is coming to Mason City to participate in the automobile race card set for Monday, Aug. 19, at the North Iowa fair. Born in Regina, Sask., Canada, the "Pride of the Provinces" emerged upon his sports career as an amateur hockey player with a Canadian unit. Shortly after his debut into hockey circles, Collins took up professional automobile racing with the result he was barred from future endeavors in the amateur hockey league. Also Played Hockey. With Collins' early winnings in the professional racing game serving as more than enough encouragement to continue with racing, and with his prowess in hockey gaining sufficient recognition to make him sought as a member of a pro team, his winters were spent playing professional hockey while the summer and fall months saw him engaged in the dustthrowing skidfests over tracks located in all parts of the continent. Defeats handed Sig Haugdahl, Gus Schrader, Swan Peterson, Lou Schneider, Johnny Seymour, Maynard Clark, the late Brian Saulpaugh and others of the top-flight drivers, landed Collins in the front row of the men who make their living by broadsiding turns and rushing straightaways at the wheel of highly-tuned racing machines. One of the greatest factors in the success of the Canadian champion is his unusual mechanical ability and uncanny engineering feats in adding to the speed of mounts that have previously been declared as having "reached the limit." Will Be Threat. Only last winter did Collins make a trip to the west coast in search of added improvements for his famous Cragar-Miller special. New methods of carburetion, a higher compression ratio than had previously been used on his make of car and several other innovations were the result of Collins' western jaunt. With a machine in perfect tune, Collins will be a greater threat than ever here during the Mason City events. Everything that has been said of the lead-footed Canadian in the past has been well founded and new records are certainly to be anticipated with Emory Collins' name in the entry list of speedmen who will thrill throngs at the near-at- hand North Iowa Fair at Mason City. Council Bluffs City Council Petitioned to Match Grant of WPA COUNCIL BLUFFS, Aug. 8. UP) --The Indian creek improvement committee petitioned the city council here to proceed at once toward issuance of $908,743 in municipal bonds to match a government WPA grant of $743,000 for walling and covering of the stream. The federal appropriation was approved Wednesday by President Roosevelt. The project, hoped to be underway by Sept. 1, is planned to eliminate flood meances. The stream runs through the business district, bisecting the town. After successfully marketing several bond issues, the head of the concern calls the purchasers a lot of crooks because they bought the bonds to their business advantage. Where do we go from here?--New York Sun. /Â· To Speak at First Methodist Church on Experiences in Africa. Bishop M. W. Clair, Covington, Ky., was expected to arrive Thurs* day for the second day's program of the conference of the Kansas City district of the Methodist Episcopal church, meeting at the Union Memorial M. E. church. The day's program included discussion on "How Shall We Win the Loyalty and Allegiance of the Home in Support of the Church Program in Religious Training of Our Youth?" This was led by F. B. Clay. Miss Hattie T. Hooks, missionary for 15 years at the Methodist Episcopal mission at Ganta, Liberia, West Africa, will speak at the First Methodist church Friday evening at S o'clock on her experiences. The public has been invited. Friday's program will include sessions of the Woman's Home Missionary organization and the Woman's Foreign Missionary convention, Mrs. M. M. Brewton presiding at the former and Mrs. Nora Mitchell at the latter. STATE FLORISTS PLAN RECEPTION AT LAKE SESSION Public Invited to See What Designers Create in Decorations. An attendance of 200 is expected at the state meeting of the Society of Iowa Florists at the Clear Lake lountry club Friday and Saturday. Friday's program will include baseball, golf and speeches, reaching a climax in a convention banquet at 7 o'clock. From 5:30 to 6:30 o'clock a public reception will be held, giving North Iowa residents an opportunity to see a variety of table decorations that will have been prepared by prominent designers from various mrts of the state. Mrs. Page to Speak. Speakers on the program following a noon luncheon will include Mrs. Harry Page, Mason City, who will talk on "Your Customer's Viewpoint;" Dr. B. W. Murphy, St. Joseph, Mo., president of the Society of American Florists, and H. Brock- vay, executive secretary of the S. A. and O. H., Chicago. There will be an exhibition and contest of modern styles in floral arrangements in charge of A. E. Stonebrook, Jr., Hampton. Saturday's business session will lave as speakers Henry Ness, Iowa State college, Ames, who talks on 'Iowa Nursery Dealers' License" and Henry Rosacker, Minneapolis, who will lead a discussion on modern methods of plant growing. To Visit Colby Plant. Saturday afternoon a visit will Je made to the Colby Pioneer Peat company plant near Hanlontown. The remainder of the afternoon will be given over to bridge, golf, baseball, boating, bathing, fishing and other entertainment. H. M. Knudson of Kemble's greenhouse, Mason City, is chairman of the committee on arrangements Other members are A. E. Stonebrook, Hampton; Alvin J. Huenhold, Algona; Mrs. Lillian Overton. Clear Lake, and Ray Whorley, Mason City. A. A. Bezdek, Cedar Rapids, is president of the association. Rain Hinders Celebration. BUFFALO CENTER, Aug 8 -Rain Thursday morning interferei with the opening of the Buffalo- day celebration, although a fairly large crowd was gathering. Vlrs. Clara Brendel Funeral Rites Held at Des Moines Home Funeral services for Mrs. Clara Srendel, 56, who died at a Des Moines hospital Monday afteiTiOOn, were held at Des Moines Thursday afternoon. Mrs. Brendel suc- umbed following an operation for Appendicitis Aug. 1. Surviving Mrs. Brendel are her husband, J. C. Brendel; three children, Herbert N. Brendsl, 1032 East State street; Fred Brendel, Polk City; and Mrs. Howard Schaad, Ft. Morgan, Colo., and two grandchildren, Joan Schaad and Donald Lee Brendel. Herbert Brendel is stock clerk at the Wagner Motor company. STATE BRANDS TO GIVE AWARDS Calf Club Winners in Dairy Division to Get Trips to Ames Shortcourse. Winners of the 4-H calf club championships in the Guernsey, Holstein and Jersey pure bred or grade divisions at the North Iowa 'air, Aug. 19 to 23, will be given a :rip to the short course at Iowa State college at Ames in December 3y the Iowa State Brand Creameries, Inc., R. O. Storvick, manager, informed County Agent Marion E. Olson Thursday. The short course is a five day event, which is looked forward to v,':th much anticipation by the farm youth able to attend. The Iowa State Brands is planning to invite all 4-H club boys exhibiting at the fair to the plant on Aug. 20. The boys will be shown about the establishment and given a program in which will be explained the essentials in butter production, as well as the proper handling and the quality judging aspects of the business. "Or hope is to make this an annual event," said Mr. Storvick. "We realize the future of the agricultural progam depends on these boys." REGISTRATION OF GARS AGAIN PAST 10,000 IN COUNTY :"his Figure Reached for First Time Since 1931, Records Show. Thursday as L. L. Raymond, au- omobile clerk for this count}', is- ued license plate No. 10,030, the number of automobiles registered n Cerro Gordo county so far in the Â·ear 1935 exceeded the total regis- ration for any year with the ex- eption of 1929, 1930 and 1931, the hrce peak years. The number of trucks, 1,370, reg- stercd here so far this year, es- ablishes a new record, the old high icing 1,321 in 1934. In 1930 the total automobile reg- stration reached a record high of 10,795, after having stood at 10,625 he previous year. In 1931 a total of 10,532 automobiles were registered here. Figures for the last 14 years: Autos Trucks Will Visit Parents. G R A F T O N--Claude Reeck of Clinton is visiting his parents, Mr and Mrs. Fred Reeck. Our financial sharpers overlook one of the amusing possibilities i having to divide their wealth. Thiru. of the sport in winning it back.-La Crosse (Wis.) Tribune. 921 5,595 922 6,229 923 7,307 924 8,075 1925 8,797 926 9,364 927 9,594 928 10,024 1929 10,625 1930 10,795 1931 10,532 1932 9,820 1933 9,390 1934 9,904 1935 (to Aug. 8) 10,030 325 435 559 571 676 738 817 960 1,100 1,160 1,290 1,250 1,196 1,321 1,370 towans See Midwest Loss in Guffey Bill CHICAGO, Aug. 8. (.T)--A meet- ng here of coal and railway men was told by James R. Howard, Mar- ihalltown, Iowa, that enactment of :he Guffy coal bill would react unfavorably on midwestern agriculture in higher coal and freight rates. Howard is a former American farm lureau president. Sugar Coated Corn Fritters Fresh Peach Meringues featured Friday in LEONE McGHEE'S Newly Decorated Tea Room Traffic Violation Bonds Forfeited by Three Mason Cityans J. L. Ingledue, 119 Ninth street northeast, forfeited a 52 bond before Acting Police Judge S. L. Haynes, in police court Thursday morning. The bond was posted when Mr. Ingledue was arrested on a charge of driving past a stop sign. Mrs. S. M. Decker, 110 Ninth street northeast, and W. H. Erickson, 1040 Second street northwest, each forfeited bonds of 51 posted when arrested for improper parking of cars. Truman Caldwell, 312 Seventh street northwest, reported that a bicycle had been stolen from his garage. It was a Crusader model, with double bar and was painted red and white. Mr. Hoover has no sympathy for radicals of the left. He'd rather be right than president.--Davenport Times. SKILLFUL SHOE REPAIRING Pick-up and Delivery Phone 788 or 789 NOW IS THE . . time to have us quote you prices on installation of automatic heat for your home. PHONE 888 A VACATION WEEK Education end NORTH IOWA FREE FAIR Auto Races Mon., Ayg.19 World's greatest dirt track drivers, headed by unbeatable Gus Schroeder. -- Events -- 8 3 Days -- 9 Tues., Wed. Thurs. 100 head of the finest and fastest horses in ten states will make this meet the greatest in the midwest in 1935. BARNS, EXPOSITION HALLS AND GROUNDS will overflow with educational features. HUGE STAGE SHOW OF 40 PEOPLE The largest and most pretentious show on the road playing Class B fairs. VISIT THE NORTH IOWA FREE FAIR and learn how you may win FORD V-8 STANDARD SEDAN on last night of fair.